(Limassol, 2 November 2021) S.D. Standard Drilling Plc (Standard Drilling, OSE:
SDSD NO) today announces the sale of its 33.3% ownership in the VLCC Gustavia S,
following the updated company strategy. The proceeds from the VLCC and any
future divestments of the offshore fleet will be directed towards more liquid
investments within Standard Drilling's core sectors.

"The transaction follows Standard Drilling's renewed focus on more diversified
and liquid investments within the shipping and energy segments. We are gradually
building up our investment portfolio, expanding the team of investment
professionals and implementing the strategy with controlled risk. The sale of
our VLCC holdings is an important part of this transition, " says Martin Nes,
Chairman of the Board of Standard Drilling.

Standard Drilling has entered into an agreement to sell its 33.3% ownership in
the 2020 built VLCC Gustavia S. The transaction values the vessel at USD 93
million, where Standard Drilling will receive net proceeds of USD 14.1 million
for the company's equity stake in the vessel and book a loss of USD 0.8 million
in the third quarter of 2021. 

"Over the last few years, the combination of low commodity prices, ESG concerns
and uncertainty around long-term demand has triggered an abrupt stop to
investments in the fossil sector. In fact, today many of these companies have an
implied cost of equity in excess of 25%, making any new investments prohibited
by the capital markets. These dynamics, coupled with the long decarbonization
path we now embark on, sets the stage for a commodity super-cycle that could
last 3-5 years in our view. It is these opportunities with outsized return
potentials that Standard Drilling seeks to take part in, " Nes concludes.

The investment portfolio has increased to USD 46 million per end of October
2021, including investment gains year to date of USD 14 million. The largest
holding is Weatherford International, but the portfolio also includes
investments within E&P, drilling and shipping sectors.

ENDS

For additional information, please contact: 
General Manager, Evangelia Panagide at +357 99 77 11 16  
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling is an investment company founded in 2010. The company
holds a focused investment portfolio and has a fleet of Platform Supply Vessels
(PSVs). S.D. Standard Drilling is headquartered in Cyprus and is listed on Oslo
Stock Exchange with the ticker code SDSD.